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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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How management deployed cash over 7 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: -1014%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 7 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$11.7M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
EOD close · as of 2026-10-21
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $537K 100.0% | $894K 100.0% | — | — | — | — | — |
| Cost of Revenue | $147K 27.4% | $319K 35.7% | $386K | $348K | $400K | $370K | $343K |
| Gross Profit | $390K 72.6% | $575K 64.3% | $510K | $182K | $178K | $123K | -$61K |
| Research & Development | $4.9M 913.4% | $5.7M 639.6% | $9.6M | $5.0M | $482K | $312K | $250K |
| Selling, General & Admin | $5.1M 951.0% | $6.7M 743.9% | $11.4M | $15.2M | $8.5M | $375K | $429K |
| Total Operating Expenses | $16.5M 3077.5% | $19.3M 2164.2% | — | — | — | — | — |
| Operating Income | -$16.1M -3005.0% | -$18.8M -2099.9% | — | — | — | — | — |
| Interest Expense | $373K 69.5% | $1.0M 117.2% | $522K | $242K | $339K | $176K | $157K |
| Other Income (Expense), net | -$72K -13.3% | -$2.8M -316.1% | — | — | — | — | — |
| Pretax Income | -$16.2M -3018.3% | -$21.6M -2416.0% | — | — | — | — | — |
| Net Income | -$16.2M -3018.3% | -$21.6M -2416.0% | -$26.3M | -$26.4M | -$11.7M | -$587K | -$957K |
| Per Share | |||||||
| EPS (Basic) | -$2.70 | -$21.91 | — | — | — | — | — |
| EPS (Diluted) | -$2.70 | -$21.91 | — | — | — | — | — |
| Weighted Avg Shares (Basic) | 6.0M | 986K | — | — | — | — | — |
| Weighted Avg Shares (Diluted) | 6.0M | 986K | — | — | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow on any basis, so a reverse DCF can't be run.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~39.0% on $957K of debt.
Cash of $702K is below short-term debt of $957K — relies on refinancing/operations.
Mostly short-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-21
Where each multiple sits in its own 5-yr range · 67th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 5-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -2527% against ROIC -1014% — -1512% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is -488.3% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cost of Revenue | — | — | — | — | — | 35.7 | 27.4 |
| Gross Profit | — | — | — | — | — | 64.3 | 72.6 |
| R&D | — | — | — | — | — | 639.6 | 913.4 |
| SG&A | — | — | — | — | — | 743.9 | 951.0 |
| Operating Income | — | — | — | — | — | -2099.9 | -3005.0 |
| Net Income | — | — | — | — | — | -2416.0 | -3018.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on QUCY: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.